PETALING JAYA: Mobile health and cloud platform developer and provider UCrest Bhd is hoping to recognise a 10% contribution to its total revenue for the first few years, from the distribution of the BRCATRUE, an early breast and ovarian cancer detection genetic test kit.

Following a tie-up with US-based genetic test specialist Pathway Genomics, U Crest will serve as a distributor for its products in Southeast Asia, China, Taiwan and Russia.

UCrest CEO Eg Kah Yee said that the group is also working towards becoming a licensee to set up Pathway’s clinical laboratories in its existing market outside of Malaysia, for which China appears to be a primary choice.

At an EGM held today, the group received its shareholders approval for a private placement exercise involving up to 20% of its total share capital. It intends to raise up to RM42.76 million from the exercise.